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Spinal Surgery Devices Market to 2018 - New Entrants and Technological Advances to Intensify Competition in the Spinal Fusion Segment

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GBI Research’s report, “Spinal Surgery Devices Market to 2018 - New Entrants and Technological Advances to Intensify Competition in the Spinal Fusion Segment” provides key data, information and analysis on the global spinal surgery devices market. The report outlines the market landscape and competitive landscape and gives information on market trends for the spinal fusion devices segment and the spinal non-fusion devices segment. The report provides comprehensive information on the key trends affecting these categories, and key analytical content on market dynamics. The report also reviews the competitive landscape and analyzes in detail the pipeline products in each segment. In addition, it reviews the details of important M&A deals that have taken place in the global spinal surgery devices market.

More Info
									Spinal Surgery Devices Market to 2018
New Entrants and Technological Advances to Intensify Competition in the
Spinal Fusion Segment
GBI Research Report Guidance




                                              GBI Research Report Guidance
                                              ·     The report begins with an executive summary capturing the key points that determine the dynamics of
                                                    the spinal surgery devices market. Competition in the industry and key segments and geographical
                                                    regions are also outlined.
                                              ·     Chapter four provides information on market size for the 2004-2011 historic period and the 2011-2018
                                                    forecast period. It also has information relating to spinal surgery devices market trends, market
                                                    dynamics and the competitive landscape. In the market dynamics section, comprehensive information
                                                    is provided on market drivers and restraints.
                                              ·     Chapter five discusses spinal fusion and spinal non-fusion segments, and gives information on market
                                                    size for the 2004-2011 historic period and the 2011-2018 forecast period, as well as information on
                                                    market dynamics and competition. However, company shares for the segments have not been
                                                    covered.
                                              ·     Chapter six gives information on market size for the 2004-2011 historic period and the 2011-2018
                                                    forecast period for the US, Canada, the UK, France, Germany, Italy, Spain, Japan, China, India, Australia
                                                    and Brazil, as well as a cross-country analysis of each.
                                              ·     Chapter seven profiles the leading spinal surgery device companies and looks at their products’
                                                    features and benefits.
                                              ·     Chapter eight focuses on the pipeline products in the two segments. Key pipeline products are listed
                                                    and discussed in detail and product approval and expected launch dates are provided where available.
                                              ·     Chapter nine discusses the consolidation landscape in the spinal surgery devices industry, and looks at
                                                    the deals that took place between 2007 and 2011




  © GBI Research. This is a licensed product and is not to be photocopied                                                    GBIME0075MR / Published DEC 2012
                                                                                                                                                       Page 2
Executive Summary




                                              Executive Summary
                                              The Global Spinal Surgery Devices Market is Forecast to Increase by 4% over the Forecast Period

                                                Spinal Surgery Devices Market, Global, Revenue ($bn), 2011-2018
        The global spinal surgery
        devices market is expected                                  10
        to increase from $6.5 billion
        in 2011 to $8.7 billion in                                   9
        2018, driven by a large
        patient pool and an increase                                 8                                  CAGR 4%
        in procedure volumes
                                                                     7


                                                                     6
                                                    Revenue ($bn)




                                                                     5


                                                                     4


                                                                     3


                                                                     2


                                                                     1


                                                                     0
                                                                                      2011                                                     2018


                                                Source: GBI Research•fs proprietary database [accessed on October 31, 2012]; primary research interviews with marketing managers
                                                and other industry experts




                                              The global spinal surgery devices market is expected to grow at a Compound Annual Growth Rate (CAGR) of
                                              4% during the 2011-2018 period from $6.5 billion in 2011 to $8.7 billion in 2018. An increasing preference
                                              for Minimally Invasive Spinal Surgery (MISS) is resulting in a high demand for spinal surgery devices. A large
                                              patient pool due to a rapidly growing elderly population and an increase in the spinal surgery procedure
                                              volumes, are important factors driving the global spinal surgery devices market.
                                              Increasing Demand for Minimally Invasive Spinal Surgeries to Increase Adoption of Spinal Surgery Devices
                                              MISS is rapidly finding acceptance as it has a number of clinical benefits over traditional open-spinal surgery
                                              and can be used to treat conditions such as disc herniation, spinal stenosis, degenerated disc diseases and
                                              compression fractures, among others. Spinal deformities and instability can also be rectified using the
                                              minimally invasive approach.
                                              Open spinal surgeries are associated with a number of drawbacks, namely large incision scars and surgical
                                              complications such as excessive blood loss and severe post-operative pain, all of which lead to longer
                                              hospital stays and a longer overall recovery period.
                                              These shortcomings can be minimized or eliminated through MISS techniques, which require an incision of
                                              only 2cm. It uses advanced techniques and devices such as endoscopes, lasers and sophisticated computer-
                                              aided navigation systems to minimize the risk of unwanted adverse events such as severe blood loss and
                                              tissue injury.




  © GBI Research. This is a licensed product and is not to be photocopied                                                                   GBIME0075MR / Published DEC 2012
                                                                                                                                                                      Page 3
Executive Summary




                                              MISS also brings down the overall cost of treatment as it helps to reduce the costs associated with
                                              prolonged hospital stays, a longer recovery period and the continuous use of pain medication. A study
                                              carried out on 101 patients that underwent open-lumbar interbody fusion and 109 patients who opted for
                                              MISS showed significant savings in the overall medical expenditure associated with surgery. The mean cost
                                              of open surgery was $27,055.53, whereas the patient group undergoing MIS saved nearly $2,825.37,
                                              spending $24,320.16. The open-surgery patient group reported more a higher number of unwanted events,
                                              such as post-operative complications and blood transfusions (Lucio et al., 2012).
                                              MISS also minimizes the risk of injury to surrounding tissues and organs because a smaller area is exposed.
                                              Traditional spinal surgery performed by making a large incision in the back or abdomen might also require
                                              the dissection of muscles, nerves and/or organs to help the surgeon locate the area to be operated on,
                                              requiring the intervention of specialized vascular surgeons. Such protocols may further place the patient at
                                              increased risk of injury. However, MISS ensures that patients are not at risk of surgical injury and
                                              complications, thus ensuring a safer outcome.
                                              Competition Expected to Increase as Companies Capitalize on Technological Advances in the Spinal Fusion
                                              Market
                                              Several companies are targeting the lucrative spinal fusion market by developing products based on
                                              advanced spinal fusion technologies. The spinal fusion market is largely dominated by Medtronic, however,
                                              despite a diverse product platform, the company is expected to lose significant market share to new
                                              companies that are rapidly gaining a presence in the spinal fusion market.
                                              Most companies are capitalizing on the growing trend of the minimally invasive approach to spinal surgeries
                                              and are designing and developing new product lines accordingly. NuVasive introduced the eXtreme Lateral
                                              Interbody Fusion (XLIF) technique in 2003, which is a minimally invasive procedure performed through the
                                              side of the body with the help of the company’s proprietary neuromonitoring technology for treating spinal
                                              indications such as spondylolisthesis and scoliosis. The company is poised to gain a significant market share
                                              in the spinal fusion market with the introduction of new spinal fusion techniques. Other companies such as
                                              DePuy Synthes Spine (after the acquisition of Synthes by Depuy), Globus Medical and smaller companies
                                              such as K2M are also entering the market with a strong product platform focused on MISS.
                                              The introduction of new products by smaller companies such as NuVasive (XLIF product platform), K2M
                                              (Ravine lateral access fusion system) and the recent launch of the Spotlight PL access system by Depuy is
                                              expected to improve their market shares. Increasing competition may therefore result in established players
                                              such as Medtronic losing some market share, despite a strong and diverse product portfolio.
                                              A number of companies are also expanding into the minimally invasive fusion market through strategic
                                              acquisitions and alliances. There have been a number of acquisitions and partnerships in the market in the
                                              recent years, where major players such as Medtronic (Medtronic’s acquisition of Kyphon) and Depuy
                                              (Depuy’s acquisition of Synthes) are looking to acquire smaller niche companies that have a complementary
                                              product portfolio but are not equipped to operate alone.
                                              This intensifying competition in the spinal non-fusion market is however expected to result in price cuts and
                                              reduced profit margins, which will have a huge impact of the spinal fusion market with the emergence of
                                              advanced and low-cost models.




  © GBI Research. This is a licensed product and is not to be photocopied                                                  GBIME0075MR / Published DEC 2012
                                                                                                                                                     Page 4
Table of Contents




                                              1         Table of Contents
                                              1   Table of Contents ........................................................................................................................................ 5
                                                  1.1      List of Tables .................................................................................................................................... 7
                                                  1.2      List of Figures................................................................................................................................... 9
                                              2   Introduction .............................................................................................................................................. 10
                                              3   Spinal Surgery Devices - Overview ........................................................................................................... 11
                                                  3.1      Spinal Fusion Devices .................................................................................................................... 11
                                                  3.2      Spinal Non-Fusion Devices ............................................................................................................ 11
                                              4   Spinal Surgery Devices - Market Characterization .................................................................................... 12
                                                  4.1      Global Spinal Surgery Devices Market, Revenue ($m), 2004-2011 ............................................... 12
                                                  4.2      Global Spinal Surgery Devices Market, Revenue ($m), 2011-2018 ............................................... 13
                                                  4.3      Global Spinal Surgery Devices Market, Key Company Share (%), 2011 ......................................... 14
                                                  4.4      Global Spinal Surgery Devices: Key Trends .................................................................................... 15
                                                      4.4.1      Physician-Owned Distributorship Models Experience a Decline in the Spinal Surgery Market
                                                                  .............................................................................................................................................. 15
                                                      4.4.2      Competition Expected to Increase as Companies Capitalize on Technological Advances in the
                                                                 Spinal Fusion Market ............................................................................................................. 16
                                                  4.5      Global Spinal Surgery Devices: Market Dynamics ......................................................................... 18
                                                      4.5.1      Market Drivers ...................................................................................................................... 18
                                                      4.5.2      Market Restraints.................................................................................................................. 21
                                              5   Global Spinal Surgery Devices Market - Segment Analysis and Forecasts ................................................ 23
                                                  5.1      Global Spinal Fusion Devices Market, Revenue ($m), 2004-2011 ................................................. 23
                                                  5.2      Global Spinal Fusion Devices Market, Revenue ($m), 2011-2018 ................................................. 24
                                                  5.3      Global Spinal Fusion Devices: Market Dynamics ........................................................................... 25
                                                      5.3.1      Market Drivers ...................................................................................................................... 25
                                                      5.3.2      Market Restraints.................................................................................................................. 26
                                                  5.4      Global Spinal Non-Fusion Devices Market, Revenue ($m), 2004-2011 ......................................... 27
                                                  5.5      Global Spinal Non-Fusion Devices Market, Revenue ($m), 2011-2018 ......................................... 28
                                                  5.6      Global Spinal Non-Fusion Devices: Market Dynamics ................................................................... 29
                                                      5.6.1      Market Drivers ...................................................................................................................... 29
                                                      5.6.2      Market Restraints.................................................................................................................. 31
                                              6   Global Spinal Surgery Devices Market - Country Analysis and Forecasts .................................................. 33
                                                  6.1      Spinal Surgery Devices Market: Cross-country Analysis ................................................................ 33
                                                  6.2      Historic and Forecast Revenue, By Country .................................................................................. 35
                                                      6.2.1      Spinal Surgery Devices Market, US, Revenue ($m), 2004-2011 ............................................. 35
                                                      6.2.2      Spinal Surgery Devices Market, US, Revenue ($m), 2011-2018 ............................................. 36
                                                      6.2.3      Spinal Surgery Devices Market, Japan, Revenue ($m), 2004-2011 ........................................ 37
                                                      6.2.4      Spinal Surgery Devices Market, Japan, Revenue ($m), 2011-2018 ........................................ 38
                                                      6.2.5      Spinal Surgery Devices Market, Germany, Revenue ($m), 2004-2011 .................................. 39
                                                      6.2.6      Spinal Surgery Devices Market, Germany, Revenue ($m), 2011-2018 .................................. 40
                                                      6.2.7      Spinal Surgery Devices Market, China, Revenue ($m), 2004-2011 ........................................ 41
                                                      6.2.8      Spinal Surgery Devices Market, China, Revenue ($m), 2011-2018 ........................................ 42
                                                      6.2.9      Spinal Surgery Devices Market, UK, Revenue ($m), 2004-2011............................................. 43
                                                      6.2.10 Spinal Surgery Devices Market, UK, Revenue ($m), 2011-2018............................................. 44
                                                      6.2.11 Spinal Surgery Devices Market, Spain, Revenue ($m), 2004-2011 ........................................ 45
                                                      6.2.12 Spinal Surgery Devices Market, Spain, Revenue ($m), 2011-2018 ........................................ 46
                                                      6.2.13 Spinal Surgery Devices Market, France, Revenue ($m), 2004-2011 ...................................... 47
                                                      6.2.14 Spinal Surgery Devices Market, France, Revenue ($m), 2011-2018 ...................................... 48
                                                      6.2.15 Spinal Surgery Devices Market, Italy, Revenue ($m), 2004-2011 .......................................... 49
                                                      6.2.16 Spinal Surgery Devices Market, Italy, Revenue ($m), 2011-2018 .......................................... 50
                                                      6.2.17 Spinal Surgery Devices Market, Australia, Revenue ($m), 2004-2011 ................................... 51



  © GBI Research. This is a licensed product and is not to be photocopied                                                                                          GBIME0075MR / Published DEC 2012
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Table of Contents




                                                       6.2.18 Spinal Surgery Devices Market, Australia, Revenue ($m), 2011-2018 ................................... 52
                                                       6.2.19 Spinal Surgery Devices Market, Brazil, Revenue ($m), 2004-2011 ........................................ 53
                                                       6.2.20 Spinal Surgery Devices Market, Brazil, Revenue ($m), 2011-2018 ........................................ 54
                                                       6.2.21 Spinal Surgery Devices Market, Canada, Revenue ($m), 2004-2011 ..................................... 55
                                                       6.2.22 Spinal Surgery Devices Market, Canada, Revenue ($m), 2011-2018 ..................................... 56
                                                       6.2.23 Spinal Surgery Devices Market, India, Revenue ($m), 2004-2011 ......................................... 57
                                                       6.2.24 Spinal Surgery Devices Market, India, Revenue ($m), 2011-2018 ......................................... 58
                                              7    Global Spinal Surgery Devices Market - Competitive Assessment ............................................................ 59
                                                   7.1      Medtronic ...................................................................................................................................... 60
                                                       7.1.1     Business Overview ................................................................................................................. 60
                                                       7.1.2     Products Marketed ................................................................................................................ 60
                                                   7.2      DePuy Synthes ............................................................................................................................... 61
                                                       7.2.1     Business Overview ................................................................................................................. 61
                                                       7.2.2     Products Marketed ................................................................................................................ 61
                                                   7.3      Stryker ........................................................................................................................................... 62
                                                       7.3.1     Business Overview ................................................................................................................. 62
                                                       7.3.2     Products Marketed ................................................................................................................ 62
                                                   7.4      NuVasive ........................................................................................................................................ 63
                                                       7.4.1     Business Overview ................................................................................................................. 63
                                                       7.4.2     Products Marketed ................................................................................................................ 63
                                                   7.5      Orthofix ......................................................................................................................................... 64
                                                       7.5.1     Business Overview ................................................................................................................. 64
                                                       7.5.2     Products Marketed ................................................................................................................ 64
                                                   7.6      Zimmer Holdings ........................................................................................................................... 65
                                                       7.6.1     Business Overview ................................................................................................................. 65
                                                       7.6.2     Products Marketed ................................................................................................................ 65
                                                   7.7      Globus Medical .............................................................................................................................. 66
                                                       7.7.1     Business Overview ................................................................................................................. 66
                                                       7.7.2     Products Marketed ................................................................................................................ 66
                                                   7.8      Alphatec Holdings.......................................................................................................................... 67
                                                       7.8.1     Business Overview ................................................................................................................. 67
                                                       7.8.2     Products Marketed ................................................................................................................ 67
                                                   7.9      B. Braun Medical ........................................................................................................................... 68
                                                       7.9.1     Business Overview ................................................................................................................. 68
                                                       7.9.2     Products Marketed ................................................................................................................ 68
                                              8    Global Spinal Surgery Devices Market - Product Pipeline Analysis ........................................................... 69
                                                   8.1      Spinal Fusion Devices: Product Pipeline ........................................................................................ 70
                                                       8.1.1     Spinal Fusion Devices: Profiles of Key Pipeline Products........................................................ 70
                                                       8.1.2     Spinal Fusion Devices: List of Pipeline Products..................................................................... 74
                                                   8.2      Spinal Non-Fusion Devices: Product Pipelin .................................................................................. 77
                                                       8.2.1     Spinal Non-Fusion Devices: Profiles of Key Pipeline Products ................................................ 77
                                                       8.2.2     Spinal Non-Fusion Devices: List of Pipeline Products ............................................................. 82
                                              9    Global Spinal Surgery Devices Market - Consolidation Landscape ............................................................ 85
                                                   9.1      Spinal Surgery Devices Market: Number of Deals and Deal Value, 2007-2011 ............................. 85
                                                   9.2      Key Deals: 2007-2011 .................................................................................................................... 86
                                                       9.2.1     Globus Medical’s Acquisition of Facet Solutions.................................................................... 86
                                                       9.2.2     Alphatec Spine’s Acquisition of Scient'x Groupe .................................................................... 86
                                                       9.2.3     NuVasive’s Acquisition of Cervitech....................................................................................... 87
                                                       9.2.4     Zimmer Holdings’ Acquisition of Abbott Spine from Abbott Labs.......................................... 88
                                                       9.2.5     Regeneration Technologies’ Acquisition of Tutogen Medical ................................................ 89
                                                       9.2.6     Medtronic’s Acquisition of Kyphon ........................................................................................ 90
                                              10   Appendix ................................................................................................................................................... 91


  © GBI Research. This is a licensed product and is not to be photocopied                                                                                         GBIME0075MR / Published DEC 2012
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Table of Contents




                                                  10.1 Definitions ..................................................................................................................................... 91
                                                     10.1.1 Spinal Surgery Devices........................................................................................................... 91
                                                  10.2 Acronyms....................................................................................................................................... 92
                                                  10.3 Sources .......................................................................................................................................... 93
                                                  10.4 Research Methodology ................................................................................................................. 94
                                                     10.4.1 Secondary Research .............................................................................................................. 94
                                                     10.4.2 Primary Research .................................................................................................................. 95
                                                     10.4.3 Models................................................................................................................................... 95
                                                     10.4.4 Forecasts ............................................................................................................................... 95
                                                     10.4.5 Expert Panels ......................................................................................................................... 96
                                                  10.5 Contact Us ..................................................................................................................................... 96
                                                  10.6 Disclaimer ...................................................................................................................................... 96


                                              1.1       List of Tables
                                              Table 1:        Global Spinal Surgery Devices Market, Revenue ($m), 2004-2011 .............................................. 12
                                              Table 2:        Global Spinal Surgery Devices Market, Revenue ($m), 2011-2018 .............................................. 13
                                              Table 3:        Global Spinal Surgery Devices Market, Key Company Share ($m), 2011 ...................................... 14
                                              Table 4:        Global Spinal Surgery Market, Physician-Owned Distributorships Models .................................. 15
                                              Table 5:        Global Spinal Surgery Market, Minimally Invasive Spinal Fusion Techniques and Developing
                                                              Companies .................................................................................................................................... 16
                                              Table 6:        Spinal Surgery Devices Market, Population Aged above 60, Top 12 Countries, 2010 .................. 20
                                              Table 7:        Global Spinal Fusion Devices Market, Revenue ($m), 2004-2011 ................................................ 23
                                              Table 8:        Global Spinal Fusion Devices Market, Revenue ($m), 2011-2018 ................................................ 24
                                              Table 9:        Global Spinal Non-Fusion Devices Market, Revenue ($m), 2004-2011 ........................................ 27
                                              Table 10:       Global Spinal Non-Fusion Devices Market, Revenue ($m), 2011-2018 ........................................ 28
                                              Table 11:       Spinal Non-Fusion Devices Market, Examples of Commercially Available Products .................... 30
                                              Table 12:       Spinal Surgery Devices Market, Cross-country Analysis, Global, CAGR (%), 2004-2018 ............... 33
                                              Table 13:       Spinal Surgery Devices Market, US, Revenue ($m), 2004-2011 ................................................... 35
                                              Table 14:       Spinal Surgery Devices Market, US, Revenue ($m), 2011-2018 ................................................... 36
                                              Table 15:       Spinal Surgery Devices Market, Japan, Revenue ($m), 2004-2011............................................... 37
                                              Table 16:       Spinal Surgery Devices Market, Japan, Revenue ($m), 2011-2018............................................... 38
                                              Table 17:       Spinal Surgery Devices Market, Germany, Revenue ($m), 2004-2011 ......................................... 39
                                              Table 18:       Spinal Surgery Devices Market, Germany, Revenue ($m), 2011-2018 ......................................... 40
                                              Table 19:       Spinal Surgery Devices Market, China, Revenue ($m), 2004-2011 ............................................... 41
                                              Table 20:       Spinal Surgery Devices Market, China, Revenue ($m), 2011-2018 ............................................... 42
                                              Table 21:       Spinal Surgery Devices Market, UK, Revenue ($m), 2004-2011 ................................................... 43
                                              Table 22:       Spinal Surgery Devices Market, UK, Revenue ($m), 2011-2018 ................................................... 44
                                              Table 23:       Spinal Surgery Devices Market, Spain, Revenue ($m), 2004-2011 ............................................... 45
                                              Table 24:       Spinal Surgery Devices Market, Spain, Revenue ($m), 2011-2018 ............................................... 46
                                              Table 25:       Spinal Surgery Devices Market, France, Revenue ($m), 2004-2011 ............................................. 47
                                              Table 26:       Spinal Surgery Devices Market, France, Revenue ($m), 2011-2018 ............................................. 48
                                              Table 27:       Spinal Surgery Devices Market, Italy, Revenue ($m), 2004-2011 ................................................. 49
                                              Table 28:       Spinal Surgery Devices Market, Italy, Revenue ($m), 2011-2018 ................................................. 50
                                              Table 29:       Spinal Surgery Devices Market, Australia, Revenue ($m), 2004-2011.......................................... 51
                                              Table 30:       Spinal Surgery Devices Market, Australia, Revenue ($m), 2011-2018.......................................... 52
                                              Table 31:       Spinal Surgery Devices Market, Brazil, Revenue ($m), 2004-2011 ............................................... 53
                                              Table 32:       Spinal Surgery Devices Market, Brazil, Revenue ($m), 2011-2018 ............................................... 54
                                              Table 33:       Spinal Surgery Devices Market, Canada, Revenue ($m), 2004-2011 ............................................ 55
                                              Table 34:       Spinal Surgery Devices Market, Canada, Revenue ($m), 2011-2018 ............................................ 56
                                              Table 35:       Spinal Surgery Devices Market, India, Revenue ($m), 2004-2011 ................................................ 57
                                              Table 36:       Spinal Surgery Devices Market, India, Revenue ($m), 2011-2018 ................................................ 58
                                              Table 37:       Medtronic, Key Marketed Products, 2012.................................................................................... 60
                                              Table 38:       DePuy Synthes, Key Marketed Products, 2012............................................................................. 61
                                              Table 39:       Stryker, Key Marketed Products, 2012 ......................................................................................... 62
                                              Table 40:       NuVasive, Key Marketed Products, 2012 ..................................................................................... 63


  © GBI Research. This is a licensed product and is not to be photocopied                                                                                      GBIME0075MR / Published DEC 2012
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                                              Table 41:    Orthofix, Key Marketed Products, 2012 ....................................................................................... 64
                                              Table 42:    Zimmer, Key Marketed Products, 2012 ........................................................................................ 65
                                              Table 43:    Globus Medical, Key Marketed Products, 2012............................................................................ 66
                                              Table 44:    Alphatec Medical, Key Marketed Products, 2012 ........................................................................ 67
                                              Table 45:    B. Braun Medical Inc., Key Marketed Products, 2012 .................................................................. 68
                                              Table 46:    CleanFUZE, Product Status, 2012 ..................
								
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